Modern Money Mechanics: A Workbook On Bank Reserves And Deposit Expansion - Softcover

Federal Reserve Bank Of Chicago

Softcover

ISBN 10: 1441465936 ISBN 13: 9781441465931

Publisher: CreateSpace Independent Publishing Platform, 2009

Synopsis

What is money? The purpose of this booklet, published by the Federal Reserve Bank of Chicago, is to describe the basic process of money creation through the "fractional reserve" banking system. Money is such a routine part of everyday living that its existence and acceptance ordinarily are taken for granted. A user may sense that money must come into being either automatically as a result of economic activity or as an outgrowth of some government operation. But just how this happens all too often remains a mystery. This official publication is published by the Federal Reserve Bank of Chicago, but is now out of print from the original publisher.

About this title

About the Author:

The Federal Reserve Bank of Chicago is one of twelve regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation's central bank. The Chicago Reserve Bank serves the Seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and the state of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government, and monitors economic conditions in its District.

About this edition

• Publisher: CreateSpace Independent Publishing Platform
• Publication date: 2009
• ISBN 10: 1441465936
• ISBN 13: 9781441465931
• Binding: Paperback
• Number of pages: 50